Wholesale Costs Fall for 3rd Month on Cheap Gas

U.S. wholesale prices dropped in November for the third consecutive month, pushed down by cheaper gasoline and home heating oil costs.

Citgo station in Ewing (Dan Alexander,Townsquare Media NJ)

The Labor Department says the producer price index, which measures prices before they reach the consumer, declined 0.1 percent in November. This comes after decreases in October and September. Gas costs tumbled 0.7 percent last month after a steep drop in October. The costs for new cars also fell 0.8 percent in November.

Energy costs have kept inflation low over the past 12 months. Prices have risen just 0.7 percent in that period.